Stepdown Required Loss Percentage definition

Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ --------------------------------- June 2008 -- May 2009 2.75% with respect to June 2008, plus an additional 1/12th of 1.50% for each month thereafter June 2009 -- May 2010 4.25% with respect to June 2009, plus an additional 1/12th of 1.00% for each month thereafter June 2010 -- May 2011 5.25% with respect to June 2010, plus an additional 1/12th of 0.75% for each month thereafter June 2011 and thereafter 6.00%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: STEPDOWN REQUIRED LOSS DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------ --------------------------- July 2008 - June 2009 1.60% with respect to July 2008, plus an additional 1/12th of 2.00% for each month thereafter July 2009 - June 2010 3.60% with respect to July 2009, STEPDOWN REQUIRED LOSS DISTRIBUTION DATE OCCURRING IN PERCENTAGE ------------------------------ --------------------------- plus an additional 1/12th of 2.00% for each month thereafter July 2010 - June 2011 5.60% with respect to July 2010, plus an additional 1/12th of 1.65% for each month thereafter July 2011 - June 2012 7.25% with respect to July 2011, plus an additional 1/12th of 0.80% for each month thereafter July 2012 and thereafter 8.05%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ --------------------------------- October 2008 - September 2009 0.80% with respect to October 2008, plus an additional 1/12th of 0.95% for each month thereafter October 2009 - September 2010 1.75% with respect to October 2009, plus an additional 1/12th of 1.00% for each month thereafter October 2010 - September 2011 2.75% with respect to October 2010, plus an additional 1/12th of 0.85% for each month thereafter October 2011 - September 2012 3.60% with respect to October 2011, plus an additional 1/12th of 0.45% for each month thereafter October 2012 and thereafter 4.05%
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Examples of Stepdown Required Loss Percentage in a sentence

  • Rate equals or exceeds applicable % multiplied by Required %NO2) Cumulative Loss % exceeds Stepdown Required Loss Percentage (J > K).NO NOStepdown Date:Relevant information:Class A and R Balances 654,403,149.6656.5% of Stated Balance 467,016,481.70 Earlier of:1) Class A Paydown NO2.) The later of:A) First payment date when Class A and R are reduced to less than or equal to56.5% of Stated Balance.

  • Cumulative Loss % exceeds Stepdown Required Loss Percentage (J > K).YES YES NOCurrent Forgiven Principal (1) Cumulatvie Forgiven Principal (1) Current Deferred Principal (2) Cumulatvie Deferred Principal (2)0.001,404,501.390.002,802,023.14Stepdown Date:Relevant information: Class A Certificate Balance 75.4% of Stated Balance63,902,718.7755,625,806.34The later of:1) First payment date when Class A Certificate balance is reduced to less than or equal to 75.4% of Stated Balance.


More Definitions of Stepdown Required Loss Percentage

Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ -------------------------------------- January 2009 -- December 2009 1.75% with respect to January 2009, plus an additional 1/12th of 2.15% for each month thereafter January 2010 -- December 2010 3.90% with respect to January 2010, plus an additional 1/12th of 2.15% for each month thereafter January 2011 -- December 2011 6.05% with respect to January 2011, plus an additional 1/12th of 1.75% for each month thereafter January 2012 -- December 2012 7.80% with respect to January 2012, plus an additional 1/12th of 0.95% for each month thereafter Janaury 2013 and thereafter 8.75%
Sample 1
Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ ------------------------------------ ______________________________ ___% with respect to __________, plus an additional 1/12th of ___% for each month thereafter ______________________________ ___% with respect to __________, plus an additional 1/12th of ___% for each month thereafter ______________________________ ___% with respect to _________, plus an additional 1/12th of ___% for each month thereafter _________ and thereafter ___%
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Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN REQUIRED LOSS PERCENTAGE ------------------------------ ------------------------ February 2008 - January 2009 1.65% with respect to February 2008, plus an additional 1/12th of 2.05% for each month thereafter February 2009 - January 2010 3.70% with respect to February 2009, plus an additional 1/12th of 2.15% for each month thereafter February 2010 - January 2011 5.85% with respect to February 2010, plus an additional 1/12th of 1.65% for each month thereafter February 2011 - January 2012 7.50% with respect to February 2011, plus an additional 1/12th of 0.85% for each month thereafter February 2012 and thereafter 8.35% Stepdown Trigger Event: With respect to the Certificates on or after the Stepdown Date, a Distribution Date on which (1) the quotient of (A) the aggregate Stated Principal Balance of all Mortgage Loans which are 60 or more days Delinquent measured on a rolling three month basis (including, for the purposes of this calculation, Mortgage Loans in foreclosure and REO Properties) and (B) the Stated Principal Balance of the Mortgage Loans as of the last day of the preceding calendar month, equals or exceeds the product of (i) 30.75% and (ii) the Required Percentage or (2) the quotient (expressed as a percentage) of (A) the aggregate Realized Losses incurred from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (B) the aggregate principal balance of the Mortgage Loans as of the Cut-off Date exceeds the Stepdown Required Loss Percentage. Subcontractor: Any outsourcer that performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to more than 5% of the Mortgage Loans under the direction or 48 authority of a Servicer or the Trustee (measured by aggregate Stated Principal Balance of the Mortgage Loans, annually at the commencement of the calendar year prior to the year in which an Assessment of Compliance is required to be delivered, multiplied by a fraction, the numerator of which is the number of months during which such Subcontractor performs such discrete functions and the denominator of which is 12, or, in the case of the year in which the Closing Date occurs, the number of months elapsed in such calendar year). Subordinate Certificates: The Class M and Class B Certificates. Subordinated Certificate Cap Contract: The conf...
Sample 1
Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ -------------------------------------------- November 2008 - October 2009 1.60% with respect to November 2008, plus an additional 1/12th of 2.00% for each month thereafter November 2009 - October 2010 3.60% with respect to November 2009, plus an additional 1/12th of 1.40% for each month
Sample 1
Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE October 2006 - September 2007 2.50% with respect to October 2006, plus an additional 1/12th of 1.25% for each month thereafter October 2007 - September 2008 3.75% with respect to October 2007, plus an additional 1/12th of 1.25% for each month thereafter October 2008 - September 2009 5.00% with respect to October 2008, plus an additional 1/12th of 0.75% for each month thereafter October 2009 and thereafter 5.75% Subordinated Certificates: The Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates.
Sample 1
Stepdown Required Loss Percentage. For any Distribution Date, the applicable percentage for such Distribution Date set forth in the following table: DISTRIBUTION DATE OCCURRING IN STEPDOWN REQUIRED LOSS PERCENTAGE ------------------------------ --------------------------------- October 2008 - September 2009 2.80% with respect to October 2008, plus an additional 1/12th of 0.95% for each month thereafter October 2009 - September 2010 3.75% with respect to October 2009, plus an additional 1/12th of 0.70% for each month thereafter October 2010 - September 2011 4.45% with respect to October 2010, plus an additional 1/12th of 0.25% for each month thereafter October 2011 and thereafter 4.70% Stepdown Trigger Event: With respect to the Certificates on or after the Stepdown Date, a Distribution Date on which (1) the quotient of (A) the aggregate Stated Principal Balance of all Mortgage Loans which are 60 or more days Delinquent measured on a rolling three month basis (including, for the purposes of this calculation, Mortgage Loans in foreclosure, REO Properties and Mortgage Loans with respect to which the applicable Mortgagor is in bankruptcy) and (B) the Stated Principal Balance of the Mortgage Loans as of the preceding Servicer Advance Date, equals or exceeds the product of (i) 36.00% and (ii) Required Percentage or (2) the quotient (expressed as a percentage) of (A) the aggregate Realized Losses incurred from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (B) the aggregate principal balance of the Mortgage Loans as of the Cut-off Date exceeds the Stepdown Required Loss Percentage.
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Related to Stepdown Required Loss Percentage

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Group II Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.

  • Cumulative Loss Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred from the Cut-off Date to the last day of the calendar month preceding the month in which such Distribution Date occurs and the denominator of which is the Cut-off Date Pool Principal Balance of the Mortgage Loans.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Stepdown Date The earlier to occur of, (I) the first Distribution Date following the Distribution Date for which the Certificate Principal Balance for each of the Class A Certificates has been reduced to zero, and (II) the later to occur of (a) the Distribution Date in November 2009 or (b) the first Distribution Date on which the Current Specified Enhancement Percentage is greater than or equal to 58.90%.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Loss Percentage means on any day the greater of (i) one and one-half (1.5) times the Loss Horizon as of such day and (ii) 20%.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Group I Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which the Group I Class A Certificate Principal Balance (reduced by the Group I Principal Funds with respect to such Distribution Date) is less than or equal to ____% of the Stated Principal Balances of the Group I Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group I, in each case, as of the Distribution Date.

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 12.5% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the most recent Cut-Off Date.

  • Overcollateralization Target Amount As of any Distribution Date, 1.30% of the Initial Aggregate Receivables Principal Balance.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to: